Six months ago, with the economy in shambles, clean tech investment took a less-than-graceful swan dive off a cliff, but recent signs suggest that clean tech will be one of the first sectors to emerge from recession. New data from GTM Research sho ws that $1.2 billion has been invested in 85 low-carbon deals during this year’s 2Q. That’s up by almost 50% over the year’s first quarter.
Many analysts believe that the ARRA has worked clean-tech magic even before the majority of the funding has been disbursed. Many companies are expecting to ramp up production or advance work on key projects once the stimulus funding is flowing, and investors seem to like what they’re seeing.
Solar managed to lead the quarter with $330 million in new money, followed by the automotive sector ($202 million), clean coal and biofuels ($195 million), and battery and storage industries ($181.5 million). Somewhat surprisingly, wind and geothermal only secured $22 million in funding, even though wind usually rides right next to solar in investment popularity.
Editor’s Note: The Greentech Innovations Report for this month is available from GTM Research for $195. (Source: VentureBeat, June 30, 2009).
Contact: Joe Boyce, GTM Research, (617) 312-3866, firstname.lastname@example.org, www.gtmresearch.com.